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20120925
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. >> thank you so much, rick. let's check out the latest moves in energy and metals. sharon at the nymex. >> the momentum here definitely in the metals market. i'm standing in the gold pit. gold prices went above $1,794 an ounce. a lot of investors may have looked at the s&p 500's returns, that's decent. but gold up over 10% in the last quarter. silver up over 25% in the last quarter. they want some more of that in the fourth quarter. and we're looking at that here in the metals market. also looking at momentum taking over, the weak sentimental data out of china in terms of the oil price. the oil prices here are a little bit of a bid for oil. the fact that they lowered a mix a little while ago before the open on the weak data out of china on their manufacturing numbers. in terms of the biggest mover here in the commodities space, definitely it is natural gas. natural gas at a ten-month high. natural gas here above 3.40. some are saying that $3 gas is sustainable here even if we don't see the same focus on coal to gas switching. still going to see higher natural gas prices. back to you. >
in a little bit. >>> the latest moves out of energy. what a day it was yesterday. sharon epperson is at the nymex for us. good morning. >> reporter: good morning, carl. looks like it's going to be another busy day in the commodities market. we have speculation we may see more stimulus out of china helping support many commodities. oil and gold higher. gold near that 1770 level. keep in mind, the south african mining issues that were plaguing the industry are also plaguing gold, that also helping support gold prices. in terms of the oil price, we're also watching what is happening here in new york with the u.n. with israeli prime minister speaking about iran, today set to really lay out whether or not there should be a firm deadline here in terms of iran's nuclear ambitions. and we're also watching, of course, what's happening technically, brent crude above the 200-day moving average earlier in the session and wti bouncing back after falling below $90 a barrel in previous session. but the standout commodity most certainly is gasoline. gasoline futures continue to soar again today.
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picture is the department of energy. their inventory, if you look at at the tall stocks for the five-year seasonal average, is sitting right around 370 million barrels. that's their inventory. the five-year seasonal average is down about 325, so we're 10% over. remember last week we had a build of 8.5 million barrels. this week we're expecting a build of two million. if you see in about an hour when oil prices and the d.o.e. releases their stocks, you'll probably see oil take that next leg lower. >> let's switch gears and talk about gold as well as silver, for that matter. silver has been handily outpacing gold this year, so i'm wondering if traders are seeing the silver trade having more upside. granted, it's a less liquid market. but maybe going into the final quarter of the year, that's the bet that's in place. >> the silver trade has rallied about 20% in the last two months. it is technically an industrial metal. it has gotten a boost because of the qe hype. traders are thinking that that's the cheap metal to get into, but with prices up at 33.5, i think that they're a little bit
Search Results 0 to 3 of about 4